Boris Wintermans, CEO of Royal Agio Cigars, added: “This decision has not been easy. We have a wonderful company with highly committed employees and loyal business partners, some of whom have been working with us for over 50 years. But the combination of the two companies will be in a better position to deal with the financial consequences of ever-increasing legislation and regulations. We carry responsibility for the continuity of Agio and consider our decision to be inevitable in the long term. When the buyer came forward, we began constructive discussions regarding the benefits and resilience the combination of our companies could achieve.”
In the coming period, it will be business as usual in all parts of the company according to the press release announcing the acquisition. “We are now focusing on a proper dialogue with the works councils and staff representatives within our company, and of course we are committed to communicating responsibly with our employees,” said Wintermans.
For all the latest news from Scandinavian Tobacco Group, visit st-group.com.
